Fossil Energy – Haltenbanken Area
Equinor and Petoro have entered into a value-neutral asset swap agreement in the Haltenbanken area.
Equinor will increase its ownership in the Heidrun field and Noatun discovery and reduce its ownership in the Tyrihans field and the Castberg field, as well as the Carmen and Beta discoveries.
“We have a strategy to continue the development and the value creation on the Norwegian continental shelf and expect to maintain a high production with lower emissions towards 2035. Alignment of ownership around the larger production hubs are important enablers for long-term value creation,” says Kjetil Hove, executive vice president for Exploration and Production Norway.
Heidrun and Tyrihans are two of the largest producing fields in the Halten area in the Norwegian Sea. Heidrun is among the fields with the longest remaining life on the Norwegian continental shelf.
“Although this is a value-neutral swap, this alignment of ownership will add more value to all parties from the Halten-area over time. Balanced partnerships will simplify commercial agreements, lower operating costs, and accelerate new developments with added production at a lower cost,” Hove concludes.
